201007833 - Laserfiche WebLink

Browse

201007833 (ii) Be obligated to pay ir�t�+est under the Note at any tfine, whether accrued bafiore or after the payments by the Secretary and whether ar not accrued interest has besn included in the p�incipaf halance under t�e Note. (d) No Du� of rthe Saaretary. The Secretary has no duty �n Ler�d�' to enforce oovenants of �he Seco Security Instn�ment or to Nake actbns to preserve the Value of the Pr+operly, even though Lender may be unable to collect amoun� owed under the Note bec�use of restridians in th� Paragraph 13. 1a. Forbearanceby LenderNa►t a Watver. Any forbearance by Lender in exer�isir�g any righ# or remed shall noi be a w�iver of or praclude the exerGse of any right or remedy. 7� Successora and A�sslgns Bound; Joint and Several LlebiiHy. The aovenants and agreements of lhis Security InstrumeM shall bind and benefik the sua�ssars �nd assigns af Lender_ Borr+ower may not assign �ny rights ar obli�atbns under this Security Instrument or under the Nate, except to a tnist that meets the requ�rements of the Secretary. Borrowers covenants and agreements sh�ll be joint and several. 16. Natices. Any not�ce ua Bortower provided for ln this Security Instn�ment shall be given by delivering it ar by rnailing it by �irst des� mail unless applicable law requires use of �nother method. The nnt�ce shall be direded to the Property Address ar any other address all Borrowars �aintly d�igr�te. My notice to Lender shall be given by first class mail �o Lender's address stated herein or any address Lender desgnates by notice to Borrower. Any noti� provided for in this Security instrument shall be deamed to heve bean ghren to Borrower ar Lender when given as provided in this Paragraph 18. 17'. Gvvemin�l.aw; 3everabillty, This S�curjty Instrument shall be $ovemed by Federal law and the law of the junsdictian �n which the Prope�is bcated. In the event that any provisian ar clause of this Secu+ity Instrument or tha Note confl with applicable faw, such confllct sF�ll not affect ather pravisbr�s of this Security Instrumerrt or #he Note which can be given efFect without the conflictfng provision. To this �d the provisions of this 5ecurity Instrumerit and the Note are declared to be severable. 18. Borrowe�'s Copy. Borrower shall be given one canfarmed onpy �f the Nate and this Security Instrument. NON-UNIF�RM COV�NANTS. Bamower and Lend�r aavenant and agree as foNows: 19. Asstgnmentot Rents. Bprrower uncar►ditionally assigns and transfers to Lender ail the rents and revenues ot th� Property. Borrower aukharizes Lender or Lender's agents to oollect the rents arxi r�evenues and her+eby dirgc�s each tenarrt af the Properly b pey the rerrts ta Lender ar Lender's agents. Howevar. pnar �o Lender's notice to Borrower of Boimwer's br�ch af any cavenant ar agreement in the Security Instrument, Bomower shaN oaHect and receive all rents arid revenues of the Pro� as trustee ior the beneTrt of Lender and �orrower, This assignment of rents constitutes an a6�v ute assignment and not an assignment inr additionet security oniy. If l.ender gives notk� of breach to Bonower. (a) all rer�ts received by Barrawer shall pe held by Borrower as trustea far bene�it of Lender only, to be applied to the sums secured by this Security Instrumerrt; (b} Lender shaN be eMitled �n oollect and receive all of the rerr� af the Properky; and (c) each tenarn af the Property shs�ll pay all rerrts due end unpaid to Lender or Lender's agent on Lerxlefs written d�rxi b the tenant. Bnmower has not executed any pr�or assi�nment of tha rents and has not and will not pertorm any act th�t w�puid preveM L�der frorn exerc.�sing its rlghts wider this Paragraph 19. Lender shaA not be required � er�ter upon, take cor�ra of or maintain tite Pmperly before or after giving . notiae of b�ch to Bvrrower. However, Lender pr a�udk�ally appnir�tpd receiver may do so at any t�me there is a breach. Any application of rents sha I not cure or waivs arry default or irnalidate �ny other nght or nemedy of Lender. This assignment af ren� of the Property shall termir�te when the debt secured by this Security Instrument ispa id in full. 2Q. ForedosuroProosdur+s.lf Lenderr�quirrstmmsdiatapayrrwnt in Tull und�rParagraph9, Lenderat i!� option meiyr�quirs immsdlate peyment in Tull of all wms sscurad by this Sscurity InstrumeM withaut further demend and may invoke th� povwr of ssl� and ar�y other remedies �� d b Lendershall be entltlsd to collsct all exponsos lncurred in purauingthe p irsdin �is Para�raph�0� including�but not limitsdto. roasons6leattornsys' isss and casts of title eviclence. Irt th� pow4r af sa�le is invol�d� Trustee shall record a natias of deTault In pach caunty in which any part of the Property ts locaied and shall mail �ppi�s of �uch notias in ths mattar prescr�bsd by applicable law to Borrower and ta the oth�r prrsons proscHbsd hy applicable law. Afler the timer r�squiredby applicablelaw, Trustos shall give publienotice of sale to the persons�nd In the rr�unnsr proscribad by applicabia law. First American Laan Productlon Servlcas IVal�ka HECM ARM Senurity Ir�ument Q 2008 First M�ericen Red �sfate Sdutions LLC FALPS # Y076 : 05IOB �� e NMFL �13NE (QKN�)